, Columnist
The Pound Faces a Friendless Summer
A strong dollar and Brexit bode ill for the currency, and the central bank is largely powerless.
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The Bank of England will almost certainly keep rates on hold at Thursday’s Monetary Policy Committee meeting, and that means the pound is vulnerable to a further sell-off. There’s not much the BOE can do about it.
Thursday’s MPC decision and press conference from Governor Mark Carney will be a sad exercise in the unreliable boyfriend twisting himself into knots to talk interest rate expectations up — and the pound with it — when really he can’t.